This is the first time you're hearing an argument that uncertainty is inhibiting hiring? That's been one of the pillars of the GOP's economic message for the last few years.

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Whoa... GreenBeard may have a point.. Since Obama is the chief hostage-taker of the economy, he's intimately familiar with the tactic of uncertainty. And he's jealous that the GOP is now stealing his act..

Fresh from last week&#8217;s deal, lawmakers are turning to the fight over raising the $14.3 trillion debt limit. Republicans say the administration must agree to steep spending cuts to win their support to raise the ceiling by a May 16 deadline set by the Treasury Department.

The administration is demanding a clean bill, but likely realizes it will need to agree to some spending cuts to win a hike in the debt ceiling.

Financial markets already are watching closely.

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&#8220;What markets typically dislike the most is uncertainty,&#8221; said Douglas Holtz-Eakin, the president of the American Action Forum and former director of the Congressional Budget Office. &#8220;The more it drags out, the greater that impact will be, and that&#8217;s not a good thing.&#8221;

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Wall Street got a taste of the drama Capitol Hill can serve on Sept. 29, 2008, when the House voted down the Troubled Asset Relief Program (TARP) in the midst of the financial crisis. The Dow Jones Industrial Average responded by dropping over 700 points.

Standard & Poor&#8217;s would cut the U.S. credit rating to its lowest level and Moody&#8217;s Investors Service said it will probably reduce its ranking if the government fails to increase the debt limit, leading to a default.

S&P would lower its sovereign top-level AAA ranking to D, the last rung on its scale if the U.S. can&#8217;t pay its debt, John Chambers, chairman of the company&#8217;s sovereign rating committee, said today. Moody&#8217;s said it would probably assign a position in the Aa range, or within three steps of its highest level.

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I guess it was only okay when the GOP kept hammering over and over in 2010 that economic uncertainty thanks to the Obama Administration actions are the reason why businesses aren't hiring.

Some people don't seem to realize the implications that not raising the debt ceiling would have. As I just posted, for example, S&P would lower our credit rating to a D. It would cause harm to the U.S in both the short and long term. It would also make it more difficult in the future to pay back our debt.

Of course with how negotiations have been going so far, it comes as no surprise that businesses would be worried about hiring people when the hammer is swinging overhead.

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